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Order HereBritish Airways owner International Airlines Group (IAG) has confirmed its deal to acquire Aer Lingus after Ryanair formally agreed to sell its 30% share in Aer Lingus.
Ryanair agreed in July to sell its 29.8% Aer Lingus stake to IAG, but said it would not issue a formal acceptance of the offer until mid-August, forcing IAG twice to extend the share offer deadline. Ryanair’s acceptance was a condition of IAG’s bid for the Irish carrier, and the offer is now wholly unconditional as all the conditions have been satisfied.
IAG chief executive Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism.”
By 13.00 on Aug. 18 IAG had received valid acceptances of the offer for 95.77% of the existing issued share capital of Aer Lingus. The offer will remain open until Sept. 1 for any Aer Lingus shareholders who have not yet accepted.
Aer Lingus will apply for cancellation of its share listings and trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange, expected to become effective on Sept. 17. Any outstanding shares will then be acquired compulsorily and the airline re-registered as a private company.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereBritish Airways owner International Airlines Group (IAG) has confirmed its deal to acquire Aer Lingus after Ryanair formally agreed to sell its 30% share in Aer Lingus.
Ryanair agreed in July to sell its 29.8% Aer Lingus stake to IAG, but said it would not issue a formal acceptance of the offer until mid-August, forcing IAG twice to extend the share offer deadline. Ryanair’s acceptance was a condition of IAG’s bid for the Irish carrier, and the offer is now wholly unconditional as all the conditions have been satisfied.
IAG chief executive Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism.”
By 13.00 on Aug. 18 IAG had received valid acceptances of the offer for 95.77% of the existing issued share capital of Aer Lingus. The offer will remain open until Sept. 1 for any Aer Lingus shareholders who have not yet accepted.
Aer Lingus will apply for cancellation of its share listings and trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange, expected to become effective on Sept. 17. Any outstanding shares will then be acquired compulsorily and the airline re-registered as a private company.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereBritish Airways owner International Airlines Group (IAG) has confirmed its deal to acquire Aer Lingus after Ryanair formally agreed to sell its 30% share in Aer Lingus.
Ryanair agreed in July to sell its 29.8% Aer Lingus stake to IAG, but said it would not issue a formal acceptance of the offer until mid-August, forcing IAG twice to extend the share offer deadline. Ryanair’s acceptance was a condition of IAG’s bid for the Irish carrier, and the offer is now wholly unconditional as all the conditions have been satisfied.
IAG chief executive Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism.”
By 13.00 on Aug. 18 IAG had received valid acceptances of the offer for 95.77% of the existing issued share capital of Aer Lingus. The offer will remain open until Sept. 1 for any Aer Lingus shareholders who have not yet accepted.
Aer Lingus will apply for cancellation of its share listings and trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange, expected to become effective on Sept. 17. Any outstanding shares will then be acquired compulsorily and the airline re-registered as a private company.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.